Oct 28 2009
The New Consumer Confidence Index – Green Confidence
I attended yesterday’s virtual press conference announcing the debut of the monthly Green Confidence Index (GCI). It’s a very clever idea, developed by reputable research company, EarthSense, and its Chief Research Officer, Amy Hebard. Most business execs are familiar with the often cited Consumer Confidence Index, a component of the leading economic indicators from the Conference Board. The GCI aspires to a similar following and it just might achieve it.
The initial report on the GCI is offered free-of-charge at www.greenconfidenceindex.com with monthly reports available on an annual subscription basis. There are several interesting tidbits in the first edition, including the fascinating graph of which sources of environmental information consumers report using and how confident they are in those sources. There’s a fairly high level of trust in green blogs and websites but relatively low usage. Of course, consumer trust is likely to vary depending on the particular blog or website. I’m guessing that sites from reputable non-profits and established media organizations like Greener World Media (a co-sponsor of the GCI) would be seen as more trustworthy.
For consumers, corporate blogs and websites are neither widely used nor widely trusted as sources of environmental information. So what are the communications implications for consumer-focused businesses?
- Don’t strain credibility by making environmental claims you cannot substantiate.
- Don’t “hide your light under a barrel.” Publicize your progress through trusted consumer media. Be transparent and acknowledge the limitations of your product’s “greenness.”
- Use certified eco-labels on your products. An excellent list of eco-labels is available at Consumer Reports GreenerChoices.org.
- Remember that your stakeholders also include environmental activist groups, NGOs and investors – all of whom are seeking credible information from you. Reporting corporate-wide information to the Carbon Disclosure Project, Global Reporting Initiative, the Climate Registry or other organizations.
And, lastly, you’ll want to stay abreast of consumer “green” perceptions – both general and specific to your brand. For the latter, check out the EarthSense Business Indicator service. Your company may already be included in the list of those tracked.